By Steve Sinovic/ Journal Staff Writer Thursday, July 27th, 2017, 3:52pm
ALBUQUERQUE, N.M. — Mighty Auto Parts is relocating its business from a leased space in Albuquerque to a portion of a 40,000-square-foot industrial facility that the local franchisee will own outright.
The transaction, announced Thursday by Allen Sigmon Real Estate Group brokers, will give the wholesale auto parts supplier more room to expand its operations to current and future clients in New Mexico, southern Colorado and Northern Arizona.
The sales price of the building at 2832-2850 Girard NE was not disclosed.
“It’s your basic bread and butter warehouse” facility with tenants already in place, said Thomas Mortensen, who, along with Ben Nolte, represented Mighty Auto Parts’ owner Richard Jones on the deal.
Mighty Auto will take over 13,000 square feet of the total space and lease out the rest, said Mortensen. “The owner feels good about the market in the long term and buying (real estate) instead of leasing expresses that confidence,” he said.
The business, which is delivery intensive, is a prime location for the company with access to the city’s two major freeways and the heavily trafficked Candelaria and Menaul corridors. Since opening six years ago, Mighty Auto Parts has operated from a leased facility at 5901 Office Blvd NE.
Mortensen said the transaction is the biggest one so far this year for the brokerage team. Paul Cook of Sperry Van Ness represented the seller.
According to its website, Mighty Auto Parts franchisees serve more than 12,000 repair facilities in the U.S.
Story originally reported on the Albuquerque Journal: https://www.abqjournal.com/1039490/mighty-auto-relocates-to-large-industrial-space.html
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